Resources Top 5: Graphite player Renascor gets some Albo love,...

Resources Top 5: Graphite player Renascor gets some Albo love, to the tune of $185m

Graphite player Renascor Resources has nabbed $185 million in funding - and its share price is busting on up and to the right as a result. Here’s your resources wrap.
Rob Badman

5 min read
April 17, 2024 - 3:08PM

Look who's smiling down on Renascor. Picture: Getty Images

Growing graphite player Renascor Resources (ASX:RNU) has nabbed $185 million in key funding - and its share price is busting on up and to the right as a result.
In fact, by 3pm Wednesday (AEST), Renascor’s share price was up more than 29.5 per cent for the day.
“Made in Australia?” You know it. And Albo and co are pushing the Future Made in Australia Act hard right now.
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A whopping great $185 million from the Australian government to Renascor has now been conditionally approved under the gov’s $4 billion Critical Minerals Facility scheme. That’s been confirmed by Export Finance Australia (EFA).
And that funding is to be used to fast track the construction of the upstream portion of the BAM (battery anode material) manufacturing project, which is a graphite concentration operation within the company’s flagship Siviour graphite project.
It’s a capital injection into a promising upstream graphite mine and concentrator facility in South Australia, essentially.

The BAM project combines SA’s Siviour graphite deposit, the largest reported graphite reserve outside of Africa, and a state-of-the-art processing facility, with the objective of manufacturing purified spherical graphite – “through Renascor’s eco-friendly purification process” no less.
It’s a critical minerals narrative. It’s an EV batteries narrative.
Spherical graphite, which is battery-grade, is used specifically for anodes in lithium-ion batteries.
“Renascor Resources will deliver the sustainable and ethically sourced production of Australian-made purified graphite, for use in lithium-ion batteries required for electric vehicles and renewable technologies,” reads an Australian government media release sent out into the wilds today.

Siviour battery anode material project location. Source: Renascor Resources
Renascor MD David Christensen said, among other things: “In the Siviour graphite deposit, Renascor is fortunate to be endowed with a large world class asset. The support from the Australian government and EFA is testament to the gravity of the opportunity for Renascor, and Australia, to become a world-leading supplier of graphite into the lithium-ion battery supply chain.”
Renascor recently reported a power connection upgrade for its 100 per cent-owned Siviour graphite project. Read about that > here.

From Herald Sun/Stock Head